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Online Auctions: The New Way of Shopping for Mauritians

Since their introduction several years ago, online auctions,
such as eBay, have been one of the hottest destinations on the
World Wide Web. Auction sellers are attracted by the prospect of
a broad venue for their products and the possibility of high
profits. Bidders on online auction sites are drawn to the unique
shopping opportunities and potential to purchase hard-to-find
items at low prices.

One such website in Mauritius is www.mauritiantrader.com . As
an online marketplace, MauritianTrader offers a window of
opportunities to businesses and individuals by allowing them to
buy and sell almost anything online. It even gives buyers the
opportunity to request a specific item from sellers (reverse
auction). Items sold can be new or used ones and they cover all
categories from electronics, fashion items, books, cars,
antiques, furniture etc.

What makes online auctions so attractive to businesses is the
number of people bidding against each other. It provides an
instant audience that secures the seller the best price. As for
the buyer, the speed, simplicity and variety of goods on offer
can vastly speed up procurement.

Benefits of buying on auction websites

Bidding for products has advantages over traditional
purchasing for both buyer and supplier. Businesses save time
spent on procurement by finding, comparing, ordering and paying
for products in one sitting. Repeat orders can also usually be
made quickly and cheaply. Experienced bidders save time by using
software to keep track of several auctions at once, setting up
automated searches and bid alerts.

Many businesses use online auctions for buying items that are
non-critical to their business such as office furniture, or to
track down specialist equipment, that can be picked up
second-hand at a keener price.

As for individuals, the convenience of sitting at home and
shop for something is thrilling. Just a few clicks and you can
find what you are looking for at great prices in a matter of
seconds.

Benefits of selling on auction websites

Businesses selling products or services at an online auction
are likely to see reduced marketing costs, as they are tapping
into a ready-made community of buyers at a well-established
auction. Moreover, they get access to a much wider market - small
suppliers gain a worldwide audience.

Many companies find selling at auctions gives them useful
feedback on their products and services - they treat it as an
opportunity to test products and gauge value. Another key benefit
is being able to offload excess stock quickly and cheaply. It can
also help cut out the middle man.

Some individuals go for auction websites simply because they
want to make some extra money. So, they buy products on sale and
sell them at a slightly higher price but lower than the regular
market price. Other people may just want to clear up clutter
around the house by selling second hand items or even may want to
start their own business by advertise their products online.

Mauritians have been lagging behind on online trading mainly
because there was no local auction website in the past. Moreover
Mauritians still hold on to their traditional ways of doing
business. They feel the need to see-touch-feel a product before
buying. However, with a local website like MauritianTrader, where
users are mostly Mauritians, they can arrange to meet and view
the item before making any payment.

Mauritians may feel skeptical at first to adopt this new way
of doing business. Just like millions of people around the world
buying and selling online, Mauritians will quickly realise the
benefits they would derive from online trading. The uncertainty
of a buyer's or seller's reliability may be another cause for not
choosing online auctions. However, like eBay, MauritianTrader has
a feedback feature. The buyer/seller gets a feedback at the end
of each transaction. The more transactions, the more feedback and
therefore the more a buyer/seller's "reputation" can be evaluated
accurately.

It is high time Mauritians make use of this service,
especially small businesses that do not necessarily have the
powerful tools for effective marketing. Not only will they be
selling to Mauritians but also obtain global exposure. Mauritius
should make the next step and catch up with the latest methods of
doing business effectively.

Czechs to auction up to CZK 24bn in bonds in AprilBusiness RecorderPRAGUE: The Czech Finance Ministry will offer up to 24 billion crowns ($1.16 billion) worth of domestic government bonds in six primary auctions taking place in April, the ministry said on Monday. The ministry also said the maximum expected nominal ...

Christie's to Auction Rare Watch once Owned by Egypt's King FaroukAsharq Al-awsat EnglishAn exhibitor displays the Patek Philippe 18k gold perpetual chronograph wrist watch with moon phases belonging to the King Farouk, at the Christie's auction in Dubai. (Reuters). Asharq Al-Awsat. A rare gold watch once owned by Egypt's King Farouk is ...

Competitive auctions secure top sales in the southeastNEWS.com.auCompetitive auctions secure top sales in the southeast. PROPERTIES in Maroubra performed strongly over the weekend, with a five-bedroom home and two-bedroom unit breaking records this week. Check out why these properties scored the big bucks ...

Rare Books at Auction This WeekFine Books & Collections Magazine (blog)Five auctions to watch this week, leading off with a Wednesday, March 21 sale of Fine Books and Manuscripts at Bonhams London. The 408 lots include items from the collections of Charles Benson, Esq. (lots 45-65), Capt. J.D.G. Fortescue (lots 110-154 ...

EOS: Set for a Slide Based on Auction Statistics?CryptovestThe EOS digital asset will continue for a while with the daily auctions, but what is the fair price? author by Christine Masters , 19 March. Subscribe. articleStartImage. The EOS network is approaching its launch - however, the market price of the ...

Christie's to auction rare watch once owned by Egyptian kingTimes of OmanDubai: A rare gold watch once owned by Egypt's King Farouk is expected to fetch $400,000 to $800,000 when it auctions this week at Christie's in Dubai. Made in 1944 and embossed with old Egyptian royal crest, the Patek Philippe 1518 with perpetual ...

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